The correct answer is A. Debt.
A liability is an amount that a company owes to another party. It can be in the form of a loan, a bond, or an account payable. Liabilities are recorded on a company’s balance sheet as
a negative number.Debt is
a specific type of liability that is incurred when a company borrows money from a lender. The lender will typically charge interest on the loan, which means that the company will have to pay back more than the original amount borrowed.Debit is a term used in accounting to describe an entry on a company’s ledger that increases assets or decreases liabilities. A debit is recorded on the left side of a ledger account.
An asset is a resource that a company owns and that has economic value. Assets are recorded on a company’s balance sheet as a positive number.
Credit is a term used in accounting to describe an entry on a company’s ledger that increases liabilities or decreases assets. A credit is recorded on the right side of a ledger account.
In conclusion, the correct answer to the question “Synonym of LIABILITY” is A. Debt.